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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

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                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

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         Date of report (Date of earliest event reported): May 13, 2005

                              FIRST IPSWICH BANCORP
             (Exact name of registrant as specified in its charter)

       Massachusetts                 333-114018                  04-2955061
(State or other jurisdiction        (Commission                 (IRS Employer
     of incorporation)              File Number)             Identification No.)

31 Market Street, Ipswich, Massachusetts                           01938
 (Address of principal executive offices)                        (Zip Code)

Registrant's telephone number, including area code: (978) 356-3700

                                 Not Applicable
          (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|   Written communication pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))


Item 2.02  Results of Operations and Financial Conditions

      On May 13, 2005, the Company issued a press release announcing the
Company's financial results for the quarter ended March 31, 2005. The press
release is furnished as Exhibit 99.1 to this report and incorporated herein by
reference.


Item 9.01 Financial Statements and Exhibits

(c) Exhibits

Exhibit No.       Description
-----------       -----------

Exhibit 99.1      Press Release dated May 13, 2005.



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                                    SIGNATURE

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                     FIRST IPSWICH BANCORP


                                     By: /s/ Donald P. Gill
                                         --------------------------
                                         Donald P. Gill
                                         President and C.E.O.

Date: May 13, 2005



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                                  EXHIBIT INDEX

Exhibit No.       Exhibit Description
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99.1              Press Release dated May 13, 2005.